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    Rep. Levin: GOP “Playing With Fire” On Debt Ceiling Vote

    Add Congressman Sander Levin (D-MI) to the growing list of government officials and Wall Street titans to warn about the potential for economic catastrophe if the debt ceiling is not raised before the August 2 deadline.

    House Republicans are "playing with fire" by declaring the intention to not raise the debt ceiling, Rep. Levin says. "It will be disastrous for everyone."

    Rep. Levin is extremely critical of his Republican colleagues, including House Speaker John Boehner, for saying they won't vote to raise the debt ceiling unless accompanied by massive cuts in federal spending. "When the Speaker talks about '$2 trillion in cuts'; I don't know where he's getting that," Rep. Levin says. "No one is proposing responsibly how to do that in time to adjust the debt ceiling. I don't know why he's doing that. They're willing to have a crash in order to make a point."

    Rep. Levin, the Ranking Member of the House Ways & Means Committee, agrees Congress must address spending and tackle the deficit. But they should be kept on separate tracks to avoid the "danger of an economic crash," he warns.

    As discussed previously, the U.S. hit its $14.294 trillion debt ceiling on May 16, but Treasury Secretary Tim Geithner said the government can continue to make its debt payments until Aug. 2, thanks to "extraordinary measures." (See: U.S. Hits the Debt Ceiling: What Does It All Mean? )

    Like most observers, Rep. Levin believes Congress ultimately will vote to raise the debt ceiling prior to the Aug. 2 deadline, predicting "wiser heads will prevail."

    Still, he frets that simply waiting until the August 2 deadline is at hand could have major repercussions for the financial markets. "We [would] shake things up at a time when we have a fragile recovery," Rep. Levin says. "Why take a chance to undo that? It's irresponsible."

    What do you think?

    Aaron Task is the host of The Daily Ticker. You can follow him on Twitter at @atask or email him at altask@yahoo.com

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    130 comments

    • Mathews Man  •  10 months ago
      The ONLY WAY to fix Washington DC is to eliminate campaign contributions, and lobbyists. Change campaign time line to 60 days. Each canidate gets 30 minutes on tv each week, and 4 debates. How can you do one job, while your trying to get elected to another, or reelected?
      • John 10 months ago
        Pure crap!
    • Badger2  •  10 months ago
      Our representative democracy has resulted in the dire financial straits we find ourselves in. The built in bias for incumbents is a huge contributor. Levin is a prime example of what the lack of term limits leads to. Take a close look at the leadership of the two parties. No matter how one cuts it, it's hard to not blame the system for our predicament.
      Unfortunately, only a constitutional convention could create a solution to this seniority disaster. The probability of that happening is remote. So, good luck, America.
    • Patrick  •  10 months ago
      "wiser heads will prevail? Is someone out side of the Government working on the issue too?
    • Pazh  •  10 months ago
      Man should work and earn his bread, not live on government freebies!! Stop the madness of excessive spending on borrowed money!!
      • Riverwalker 10 months ago
        I agree...start with backing down the Bush tax cuts to the richest 5% of Americans. That is an entitlement they don't want to call that.
      • Thadeus 10 months ago
        Continue with backing down the Bush tax cuts to all the others that benifited from them as well. That is another entitlement they do want to call that. Take 50% of everyone's income. Make the 50% that don't pay any tax start paying. Cut off unemployment benefits. We could be out of debt in no time, except of course Conress and Obama would just up the spending and we'd still be in debt
    • DUB  •  10 months ago
      SUPPORT YOU LOCAL SPOOKY DUDE!
    • Terrance  •  10 months ago
      Senator Levin, with all the tax money you've collected, you still can't build a suitable freeway from Benton Harbor to Detroit?
    • A Yahoo! User  •  10 months ago
      Carl Levin wants trhe debt ceiling raised so they have more money to spend!!
    • Myco  •  10 months ago
      Soros applauds his minions. He will surely profit...I wonder how much a commission these Senators get?
    • Happy  •  10 months ago
      "Everybody wants to go to heaven but nobody wants to die"
    • MrFoobar2U  •  10 months ago
      Everybody who thought going to war with Iraq should have the pay the bill..
      Those of us who knew it was a scam.. well, you can put my taxes to what they were...
      • Steve 10 months ago
        and the 3000 dead Americans on US soil was a hoax also.
      • Riverwalker 10 months ago
        No Steve but the President Bush attacked the WRONG COUNTRY after 911. How dumb was that. If he had REALLY gone after Bin Laden in Afghanistan this would have been over years ago and with a lot less dead., don't even think about the money it has cost.
      • Thadeus 10 months ago
        Those who supported the $800 billion stimulus and bailouts and 3rd war in Libya should pay as well.
    • Blip  •  10 months ago
      Republicans are taking us down a dangerous path with their stance on the debt ceiling. Are their questionable principles worth destroying the country? It's akin to knowingly walking in front of a moving car while you are in the crosswalk and claiming you are standing up for the principle of "right of way". Right of way doesn't help you if you are dead or in a hospital bed. This country has been drinking Rupert Murdoch's poison Kool-Aid for far too long...
      • Kerry 10 months ago
        How would you stop the reckless spending from Obama?
    • Jimmy  •  10 months ago
      who started both wars..Bush(R), who has had to come in fighting from behind President Obama. To those who want to cut President and Congress salaries forget it for they are contitutionally mandated
      • stephenf4 10 months ago
        Who started the Libya war? Don't say "NATO" because that only a screen. Let me give you all a hint... it starts with an "O" as Commander and Chief.
      • M 10 months ago
        Jimmy the moron
      • Thadeus 10 months ago
        Who continue to fund those wars? Who started a 3rd war? That would be the dimwits and Obama.
    • Ron M  •  10 months ago
      Let's see ... we've been spending more than we've been making for how long? And now we think this is all going to just go away without any controversy or pain or tough decisions. Sure!

      We put ourselves in this hole over a long period of time, and now we look for the "magic pill" solution. It's gonna hurt to fix this because we have been so naive and self-indulgent for so long.

      For those who decry corporations going abroad ... stop buying stuff from China or anywhere else that bothers you. You can take the personal responsibility to fix it ... one purchase at a time. Of course, that would mean no Walmart or Target or whatever ... it's easier to cry about 'someone else' fixing the problem. And that would mean taking personal responsibility ... we're not too good at that either. Change is great ... just as long as it happens to someone else.
    • HC  •  10 months ago
      I have continued to read comments and truly appreciate them. Many Thanks

      What, I would like to state is: Let's forget about who is to blame? Why "finger pointing" about Bush and/or any political party (we created this problem..you and I). The focus is on what can "WE" do to reduce and prevent the growth of the budget.

      We cannot be the "peace makings" of the world. Provide money to countries to support our activities (fly zones, loving the U.S., or whatever ...); give money to agencies (for years that are not applicable today) that do not provide a value added services. There is no "free lunch" someone has to pay for it.

      Remember, Congress, including the President was voted in by us and the same process can be used to remove them.
    • Gabriel  •  10 months ago
      Sander Levin is a joke along with his brother carl who is in the senate.
      I cannot wait to fire both of them along with my other senator Debbie Stabenow and the leader of the libs Obama
    • Barney  •  10 months ago
      come Aug 2 and Seniors quit getting their SS checks which they earned but REpubs consider a gimee it will be interesting
    • RuleTheSeas  •  10 months ago
      The crushing regulatory burden, and taxation to hilt by every government entity, from local to federal, has driven the good jobs overseas. And many more will leave as communications continues to improve. I spent a month in Costa Rica recently, and the internet and phone service there was way better than in Colorado.

      So keep arguing about the debt ceiling, etc, and keep ignoring the fact that 80% of the world is willing to work for less than half of what even a high school drop out wants, and within 10-20 years you will have to build a wall to keep the US citizens in, and not the illegals out.
    • Private Sector  •  10 months ago
      Bush raised the debt ceiling 5 times. Boehner voted for it each time. Bush came into office with a surplus and left office with the US in its worst shape since the Great Depression.
    • fingerpaint  •  10 months ago
      What a DIVERSION a misdirection!! America's 5% elite that receive 90% (YES, that is correct) of the wealth have failed as leaders. Strip them of their wealth and throw the dumb, arrogant, and pompous onto the street. America is a nation of sheepeople. When Germany lost WW2. They were bombed flat and utterly decimated. They eliminated the 5% that ran the country. Look at what they have achieved. The Japanese the same thing, the Russians the same thing. America needs to cast down the wealthy and privileged and make this a nation that is based on brains, work, innovation, and courage. The nation is currently being run on the philosophy of use, abuse, manipulate, lie, cheat, steal, and inherit. 95% inheritance tax- YES . A parent can give their child an education, 25K a year, loans, and money under the table - that is enough. If the spawn cannot cut it then the last thing you want is to give them millions of dollars.
    • kenneth  •  10 months ago
      Boehner is an embarassment to all. He needs to lead. Leadership is making a deal where everybody gains and all give up something. Standing with his feet in cement while the nation suffers internally and looks pathetic in the eyes of the world, he makes Nancy Pelosi look like the second coming.

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